New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-16
THE B. AND O. TRANSFER.
GoRMAN AND OTHERS CAUSE A SCENE.
THERE MUST HAVE BEEN LIVELY TINES AT THE 81"
MEETING OF STOCKHOLDERS.

Ru11voRE Dec Is tSpccidh-Sena'or German ana
other State and city directors OF the Baltimore anu o'o
Railroad caused sensation at the special meeting VI INC
Board last Saturday NJ which the terms OF the proA
Morgan syndicate presented ana 9ain"e' 'p'"''
elected president The episode has leaked out an lro
Gentleman who present Is learned the reason why
, RoorI held such proiractcd session on tAa occa-
sion At previous meeting of the Board the oohsoi
dafed mortgage negotiated with the syndicate was pre-
sened nut IT not pressed Senator Gorn'' Oh inc
state directors. aud MoKenney White. OF the cry
directors, insisted that statement should DC maze
shoving the liabilities and the necessity for the unusu
contract that Lad been made with the syndicate ms
was promised ,,,
,rr that the annual stockholdcrs meeting was held
and the syndicate who had the privilege TO appoint uce
mr. four directors named their selections "hon the ne"
Ronrr WAS completed extra meeting was calieo-"h
it saturlayand the mortgage was presented Tor rhti
uca,ion II was accompanied by n financial statement
,vbic, city and state directors insisted showed abso-
lu,.ly nothing II was. however, proposed outS"' u"
their objections have the mortgage contract ratico
without the demanded explanation
speec that was made at ,hs point on tho side OF me
ectors caused such has not been wl'ie7'"i
at Baltimore and Ohio director meeting for quarter
~ q century Ihs speaker gave notice In the most
emphatic that the syndcnte mortgage 'ou lo' 10
uproyea Of that sitting aud That he believed tho b""
r Puhl,c Works of the state would be- uhcd IN ehJo
ing action on the part or the company unless the Boarn
/ Tho truusartion. The PRECEDENT hnily produccd II
uttutcd s.tcIncut which bas been published Ia" cry
uJ state directors nskci for line to consider tis ~"
,,,nt and siucr the unicist"oi 10 nav" ~
81 lI ii,f there nothing To- Ice done except "a carry
nnt The contract II rppc2rcd bf tue abatement tt
nor cr,ing ~ OODOUO received from the safe oi me
rNpresa there remains nearly - OOOoOO 0l HOdlnE
d,hi a., rrrd hy the sgudclc. The terms OF tht s. l
cate btve be- II characterized n 0nerOus ana harsh mo
s,u,.e tlhcs 5000 900 - - per cent non - lhDi1
Tor 100 ,rnrs ~ - ana SJOOOOoO OF the Il per cent
n,,l iii yirri preferred stock NJ % TINS VIII lu>"r'
inc .,udr1e ,ODpOpO Tor iIcr share, provided ty
coli as s a. par the trltles they take II tit loV
var louds amply secured the synilcii" u" Gnhpi
REQUIRED them 10 hr c!a-sci III Nalue Win
ne uttr mortgage. "f the CHuts. they Viii itdiIc
hiv ,-rluiuu secured bond thai runs FOR "a century
vould be- Thought bY NOS, inauciGs To he worth 10,
winch would equivalent tu ,oOO,HUu more Tor the
synlrat.. Thu; would civ" tuc syndicate rZ,uppU"V
fnr rt.ir uroht the ~iO"tOuoO lean. Inc l--lol
stock OF the COMPANY his been pr days past
tnuicl 10 hid and y as,ci. ana thai IS i"W lor
q per cent sec irify. 3d.,
I'll. state directors tried bui ded 10 secure rc uc-
ftnu of the time which the bonds VIII run llty
lr.rl that the company o-i 80 nave hld the fighl 10
=. con, en- n ANY time alter !ry years e.; pleasure,
h several ~ the s'uckuodcr director, Thought o'hOi
vts. flnaucirr, consider thai the large earning
cfir- oi tnr coiuuiny Vil Insure the earning 81 ~
ty.d ,.ar-,- aud lo'i n .uarrmcnt. they agree Will
r,. 10 . .tuIu 10 i".iti uIir .cruds On 1ho common